Market Patrol 17 August 2021

Never, ever argue with your trading system

Michael Covel

Indicative Selling Rates
against MUR
USD

15 Jan 2025

AUD
29.79
0.6292

BWP
3.43
0.0726

CAD
33.27
1.4229

CNY
6.66
7.1114

DKK
6.64
7.1328

EUR
49.01
1.0354

HKD
6.17
7.6752

INR
0.56
85.1083

JPY
30.82
153.5780

KES
37.13
127.5093

NZD
26.80
0.5661

NOK
4.25
11.1335

SGD
35.15
1.3467

ZAR
2.59
18.2579

SEK
4.30
11.0196

CHF
52.22
1.1031

GBP
58.07
1.2267

USD
47.34
1.0000

AED
13.19
3.5889

The U.S dollar gaining ground on risk-off sentiment across the board.

Fundamental News

EUR/USD
The Shared currency dropped to $1.1771 on weak risk appetite in global markets after U.S. and China economic data stirred concern about their recovery from COVID-19, U.S. Retail sales data eyed today.

GBP/USD
The Pound Sterling lost ground to $1.3817, uninspired after U.K. jobless rate unexpectedly dropped to 4.7% in June.

USD/JPY
The Japanese yen bolstered to 109.30 versus the greenback as political tension in Afghanistan, and the spreading Delta variant of the coronavirus weighed on risk appetite.

AUD/USD
The Australian dollar hammered to $0.7300 as minutes from the Reserve Bank of Australia this morning were perceived as dovish.

USD/CAD
The Loonie extended losses to 1.2586 against the U.S dollar as oil prices continued to decline for the third consecutive session amid demand concerns.

USD/ZAR
South Africa's rand weakened to 14.88 per U.S dollar as signs of weakening economic sentiment dampened the global mood.

USD/MUR
The dollar rupee idled at 42.90(selling).

Fundamental & Technical Data

Economic Indicators-Local Time

13:00 - EUR - GDP (YoY) (Q2)

16:30 - USD - Core Retail Sales (MoM) (Jul)

16:30 - USD - Retail Sales (MoM) (Jul)

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

22-Sep-2021

European Central Bank

0.00%

10-Mar-2016

09-Sep-2021

Bank of England

0.10%

19-May-2020

23-Sep-2021

Bank of Japan

-0.10%

28-Jan-2016

21-Sep-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

07-Sep-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

Reserve Bank of India

4.00%

22-May-2020

08-Oct-2021

Bank of Mauritius

1.85%

16-Apr-2020

Looking for Markets correlation?

Market Correlation is a measure, statistical or observational, that gives a positive or negative link between the pricing of multiple currencies.

Bulls & Bears Levels

Resistance and Support

Levels

EUR/USD

GBP/USD

USD/JPY

USD/ZAR

1.1828

1.3920

110.28

14.91

1.1815

1.3899

110.02

14.78

1.1795

1.3870

109.64

14.71

1.1782

1.3849

109.38

14.66

1.1762

1.3820

109.00

14.61

1.1749

1.3799

108.74

14.52

1.1729

1.3770

108.36

14.21

Technical Analysis - Forex Charts

EURGBP riding wave C

Chart updated on 21.06.2021

127% appears to be good level for short term rebound to the upside for GBPJPY

Chart posted on 21.07.2021

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Disclaimer

Please note that the information published is purely indicative. It is based on technical data from sources which the Bank verily believes to be authentic, though its timeliness or accuracy cannot be warranted or guaranteed. AfrAsia Bank Ltd issues no invitation to anyone to rely on this bulletin and neither we nor our information providers shall be in no way whatsoever, liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness, or for any delay or interruption in the transmission thereof to the user. The indicative rates and other market information are subject to changes at the Bank's discretion. Whilst every effort is made to ensure the information is accurate, you should confirm the latest situation with the Bank prior to making any decisions.

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